Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of

Construct an amortization schedule for a $1,000, 8% annual rate loan with 3 equal payments. The first payment will be made at the end of the1st year. Find the required annual payments

$355.8

$367.2

$388.0

$390.7

Based on the information from Question 37, whats the ending balance of the amortized loan at the end of the second year

$0

$359.4

$388.3

$682.8

Based on the information from Question 37 and 38, calculate the total amount of interests you should pay for the amortized loan in three years

$28.8

$55.4

$80.0

$164.2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

=+what you can edit out yet still get the message across.

Answered: 1 week ago

Question

=+3. How could you extend the campaign creatively?

Answered: 1 week ago